I don’t understand what is this fixation with a supposed need of Russia to produce consumer goods. I want to share a reply that I wrote on the blog under the survey showing Russia has grown without debt whereas Western countries can only show GDP growth with massively pumping debt. The commentator wrote: “Now, the mentioned developed countries produce the products for which the entire world is craving for, while Russian resource-driven economy produces none, and is doomed to continue in its boom to bust cycle (the cycle that those doomed developed countries actually drive).” This is my reply: I don’t understand what is this fixation with a supposed need of Russia to produce consumer goods. Why should Russia reorient it towards it? Of course, it should not. And why should Russia not invest in the energy sector where it has a natural competitive advantage? The idea is promoted by the lunatic opposition and Western media solely for the purpose of undermining pride in Russia’s achievements. Unemployment in Russia stands at 4.8% which is by far much lower than in all the Western economies, and only some 2%, maximum 3%, of the population work in the energy sector. Then what is this nonsense about Russia supposedly not doing anything else! Russia has very successfully renewed and developed the automotive industry, same for aviation, great leaps made in pharma. Even investments in tourism, most notably in Sochi (but you don’t like that either, I guess). New airport terminals are sprouting up all over the country, massive investments have been done and announced in transport infrastructure, ports, highways, high-speed trains… The agriculture and food industries have also emerged in an astonishing way. Now Russia counts among world’s biggest exporters of wheat. And what about self-sufficiency in food products? Ban of imports from West where announced overnight but no shortages occurred. And Russia continues to be strong in space and nuclear energy and most importantly arms. Much more going on and being developed. Then why on earth should that be thrown of way and Russians start sewing their own jeans and making cooking ware?
Posted on: Thu, 09 Oct 2014 10:52:32 +0000
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